Time for a workplace revamp? Improving office culture and workspaces could create better productivity which could unlock a £37bn boost to GDP – more than double the cost of Brexit.
According to a report from Ricoh and Oxford Economics, the UK could achieve a 1.8% increase in GDP if investments are made by businesses to optimise workplaces for their employees.
The Economy of People report contains surveys and interviews with employees and executives which suggest that productivity could be significantly increased if investments were made in ‘critical workplace elements’ like technology, bespoke workstyles, physical workspaces and culture.
Of those questioned:
- 93% of employees agreed that working from a fixed location made them more productive;
- 85% of employees said their workstation is essential to being productive;
- 64% saw workstations as a driver of productivity;
- Just 26% said they were productive when working from home at this moment in time. But 78% believe that given the right tools, they would be productive when working remotely, with 44% stating that they currently have the technology to allow this;
- 77% of CEOs said technology infrastructure can lead to greater business performance.
Ultimately, 70% of executives feel that the impact of an optimised office environment could increase productivity by up to 10%- therefore meaning that this is essential to unlocking GDP.
Rob Shaw, Managing Director at Glu Recruit said: “This report indicates that businesses need to adapt to the changing face of the UK office space in order to increase productivity.
“Gone are the white walls and dreary desks of the past- generation Z are coming into the workforce and expecting a greater deal of flexibility, technology advancements and a more relaxed culture.
“This isn’t to say that you need to go out and buy a pool table and beer fridge, though, it just means listening to your employees’ needs. What changes could you make to enable them to do their jobs better?”